St Maarten has similar laws as compared to the US Bankruptcy Code Chapter 11 & Chapter 7. In St Maarten, the US Chapter 11 is their version called a Moratorium. The US Chapter 7 is their Bankruptcy. In St Maarten, a Moratorium is a temporary measure that allows the debtor to try and improve their financial position and work through partial or full repayment of their debt to their creditors. If the Moratorium doesn't work than it goes to Bankruptcy and that is similar to the US Chapter 7 which is a liquidation bankruptcy. St Maarten is still governed by the St Maarten Bankruptcy decree of 1931.

Similar, but not exactly the same.